Air Canada 2012 Annual Report Download - page 121
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2012 Consolidated Financial Statements and Notes
121
Deferred income tax assets are recognized to the extent that the realization of the related tax benefit is probable. The
Corporation has unrecognized tax loss carryforwards of $1,662 and temporary differences of $6,999 for which no deferred
income tax assets could be recognized. However, the future tax deductions underlying these deferred income tax assets
remain available for use in the future to reduce taxable income. The balances of loss carryforwards vary amongst different
taxing jurisdictions. The following are the Federal non-capital tax loss expiry dates:
Tax Losses
2026 $2
2027 426
2028 966
2029 409
2030 11
2031 6
2032 2
$1,822
There are net capital losses as at December 31, 2012 of $2 (2011 – nil).
Cash income taxes paid in 2012 by the Corporation were $1 (2011 – less than $1).